LatAm Bonds

A Pemex special jolted Latin American new issues back to life on Thursday as the Mexican state energy firm broke the sector’s six-week drought with a multi-tranche $3bn deal that it increased twice and still got away at a modest premium, writes Oliver West. Other borrowers from the region are likely to follow as soon as next week, bankers anticipate.

Latin America’s syndicated loans bankers are bullish about the prospects of a busy second half of 2013 and say there is plenty of cash available for borrowers that have been put off by the recent rout in emerging market bonds.

Dealogic league tables of bond transactions, July 10, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

Dealogic league tables of bond transactions, July 10, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

Dealogic league tables of loans transactions, July 11, 2013.

Banco Santander Chile has received the go-ahead from the Chilean regulator to issue what would be the country's first ever covered bond, according to a source at the bank.

LatAm DCM bankers are increasingly pessimistic about prospects for new issues before the end of August’s summer break.

Colombia’s upward rating trajectory looks set to continue after Moody’s placed the sovereign’s Baa3 rating on positive outlook on Monday, highlighting a falling fiscal deficit.

Banco do Brasil has sold its first non-core currency private placement, raising Sfr50m ($51.8m), an October 2015 floating rate note.

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Dealogic league tables of bond transactions, July 3, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

Dealogic league tables of bond transactions, July 3, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.